Digital Commons Network^™

Nft-Related Companies: Token Sale Returns, Robert Liu

CMC Senior Theses

Non-fungible tokens (NFTs) have emerged as a new means of digital asset ownership and many companies are building projects that revolve around the technology. These companies are blockchain-based and raise capital for their projects through cryptocurrency token sales, which have become a new mechanism of entrepreneurial finance. In a sample of 62 NFT-related companies, I examine which company, fundraising, and token sale process characteristics are associated with the performance of 7-day and 60-day market returns after a token’s public listing. A multivariate regression analysis finds that the total amount of capital raised before a token launch has a negative relationship …

The Threat Of Activist Intervention: A Determinant Of 8-K Disclosure For Industrial Companies, Audrey Guilloteau

CMC Senior Theses

In the face of an activist threat, management may be inclined to provide additional disclosure to discourage potential intervention. This paper constructs an empirical model to measure the threat of activism and voluntary disclosure using a data set of 92 industrials focused activist events from 2008 to 2019. Propensity score matching is used to identify close peer firms that experience a threat of activism at the time a campaign is announced. Results from a difference in differences analysis indicate that firms targeted by hedge fund activists provide additional disclosure in the two-year period following the campaign announcement, as seen through …

Partisan Gerrymandering And The Right To Privacy, Ana Deckey

CMC Senior Theses

This paper argues that partisan gerrymanderers violate citizens’ right to privacy by using data containing sensitive information on citizens without a compelling state interest. It first details how partisan gerrymandering claims have been argued in Court in the past. Next, it discusses theories of the right to privacy, mainly exploring the tensions between James Madison’s writings on privacy and Warren and Brandeis’ famed The Right to Privacy. Then, I present originalist arguments for upholding the original meaning and principles of the right to privacy and the Fourth and Fourteenth Amendments before walking through case law related to privacy and …

Examining Bias Against Women In Professional Settings Through Bifurcation Theory, Lauren Cashdan

CMC Senior Theses

When it comes to women in professional hierarchies, it is important to recognize the lack of representation at the higher levels. By modeling these situations we hope to draw attention to the issues currently plaguing professional atmospheres. In a paper by Clifton et. al. (2019), they model the fraction of women at any level in a professional hierarchy using the parameters of hiring gender bias and internal homophily on behalf of the applicant. This thesis will focus on a key theory in Clifton et. al.’s analysis and explain its role in the model, specifically bifrucation analysis. In order to analyze …

Forest Offsets In The California Carbon Market: Challenges Of A Market Based Climate Solution, Eric Warmoth

CMC Senior Theses

Within California’s cap-and-trade program, forest offsets allow landowners to earn carbon credits for protecting forests that sequester carbon and sell these credits to polluters that can then emit one additional ton of carbon. The state’s top regulator, the California Air Resources Board (CARB), is tasked with overseeing cap-and-trade and the forest offset system. CARB is currently updating the state’s Climate Change Scoping Plan to set California on track to achieve its 2030 climate goal of reducing greenhouse gas emissions to 40% below 1990 levels. CARB is approving forest offsets that overestimate emissions reductions, while allowing companies to continue polluting in …

Rural Development In Papua New Guinea: Mining, Logging, Agriculture, And Alternatives, Tj Askew

CMC Senior Theses

This thesis examines multiple approaches to providing rural, indigenous Papuans with improved social services and economic opportunities. Rural Papuans, who make up 80 percent of the population, face below average rates of nutrition, education, disease, crime, and other quality of life indicators. Due to location, land use rights, lack of infrastructure, and minimal access to economic markets, the PNG government has struggled to provide rural communities with basic social services. Historically, the development of resource extraction projects such as mining, logging, and agriculture have been the main strategies used to improve the livelihood of rural Papuans, with limited success. This …

Over-Wintering Grounds Social Behavior Of White-Crowned Sparrows, Lauryn Jeans

CMC Senior Theses

White-Crowned Sparrows (WCSP), Zonotrichia leucophrys gambelii, are small, migrating passerine birds whose over-wintering ground social behavior is poorly researched. Suitable wintering grounds must balance climate preference and migration length, are affected by territory size and habitat competition, and have long-term effects on bird fitness. A study observed Golden-Crowned Sparrows (Zonotrichia atricapilla) returning every year to the same wintering ground and forming strong social communities during those winter months. We predicted that WCSPs exhibit wintering ground fixation and form stable flock structure at the Bernard Field Station (BFS) in Southern California during the winter months of October to …

The Lure Of Musical Comfort: An Analysis Of How Consumer Preferences In Popular Music Change Depending On The State Of The U.S. Economy Using Billboard Hot 100, Spotify Api, & Economic Data, Lindsey A. Larson

CMC Senior Theses

This paper examines data from Spotify’s Web API for all songs that have been on the Billboard Hot 100 chart from the first chart’s release in August 1958 to May 2021 to determine the relationship between music misery and economic misery. Twelve dependent variables– duration, danceability, energy, key, acousticness, speechiness, mode, loudness, instrumentalness, liveness, valence, and tempo– are used to measure the impact of Arthur Okun’s U.S. economic misery index on each characteristic. Using 12 individual linear regressions– one for each dependent variable– I find that during times of increased economic hardship, consumers are likely to choose to listen to …

Dead Money: Measuring The Influence Of Representatives On Government Spending, Adhitya Venkatraman

CMC Senior Theses

In line with popular criticisms of Congressional pork barrel spending, I find that that individual representatives do wield significant influence in securing government contracts for their districts. Using federal contract data organized at the congressional district level from FY 2001 – FY 2021, I estimate how individual members of the House of Representatives affect funding outcomes. My identification strategy leverages changes in contract funding that occur during exogenous vacancies occurring in the middle of a term. By comparing contract funding outcomes during vacant quarters to non-vacant quarters, I estimate the amount of individual influence exercised by representatives.

During vacant quarters, …

Outside The Box: Using A Sibling Training Protocol To Increase Imaginative Play Among Autistic Children, Rachel Podl

CMC Senior Theses

Autistic children seldom develop imaginary play skills. Previous studies have demonstrated the efficacy of therapist and parent training interventions to increase imaginative play among autistic children. However, few studies have utilized a sibling training model, especially when tackling the complexities of pretend play. The purpose of this study is to examine a sibling training program as a supported intervention for increasing imaginative play among autistic children. The results indicated that the sibling training program was effective in increasing the imaginative play of autistic children. This study demonstrates the importance of incorporating typically developing siblings as change agents in behavioral interventions …

Redundant Reliance And The Supreme Court's Application Of Stare Decisis, Daniel Kim

CMC Senior Theses

When the Supreme Court invokes the doctrine of stare decisis in their opinions, they are appealing to the fundamental principle that precedents have authority by virtue of being a precedent. However, they also recognize other concerns that come with the decision to defer to precedents or to overturn them. In pursuit of maintaining the rule of law, the Court uses various legal tests to guide them through sometimes competing concerns of precedential authority, including what is called reliance interests: the consideration of whether the precedent has engendered a reliance to the said precedent, to the extent that overturning it would …

A Unified Theory Of Musical Meaning, Luis Verdin

CMC Senior Theses

In this thesis, I present a novel theory of musical meaning. This theory posits a complementary relationship between the theories described in Lerdahl and Jackendoff’s Generative Theory of Tonal Music and Arnie Cox’s Music and Embodied Cognition. Each of these theories explain particular aspects of musical meaning (semantic and grammatical, respectively), though I argue that by unifying these theories into a broader framework, they can explain more about musical meaning than they could individually. This unification is performed via the novel theory I present: the Analogical Argument. This argument suggests that Lerdahl and Jackendoff’s Generative Theory of Tonal Music is …

Predicting Outcomes Of El Clásico Using Random Forests And Extreme Gradient Boosting, Emanuel Jarquin

CMC Senior Theses

In the modern era, sports betting is becoming increasingly popular. This is especially true in the realm of soccer (or ‘football’ as it is known outside the United States). As a result, the concept of attempting to predict the outcomes of soccer matches using machine learning has garnered much attention in recent years. In this thesis, I utilize well-known machine learning techniques to predict the outcomes of El Clásico matchups and compare the predictive performance of these techniques. The predictive methods employed for this thesis are random forests using the party package in R and extreme gradient boosting using the …

Advanced Full-Text Search Based On Synonyms In Postgres, Joey Bodoia

CMC Senior Theses

This paper discusses the advanced full-text search queries based on synonyms that are supported in Chajda, which is a postgres extension and corresponding python library for highly multi-lingual full-text search in postgres. This discussion will include the motivations for using advanced queries based on synonyms, examples of how to use these advanced queries in Chajda, current limitiations of the advanced queries, and performance testing of the advanced queries.

Geographic Banking Discrimination In The United States, Simon Ross Gilbert

CMC Senior Theses

Financial institutions in the United States have historically discriminated against Black Americans in a multitude of ways. One potential dynamic of unequal access that remains understudied is geographic in nature. That is, are commercial banks less likely to locate in neighborhoods with more Black people? Using a fixed effects and selection on observables model, I find that a 1 percentage point increase in an area’s Black population is related to a 0.11 decrease in the number of commercial banks in that area. This effect is localized primarily in urban areas, particularly in cities in the Mid-Atlantic, Upper Midwest, and Pacific …

Economic Propaganda In The United States, Brooklyn Montgomery

CMC Senior Theses

This thesis aims to identify and analyze three different forms of economic propaganda: cultural, structural, and political. I first examine ‘Do What You Love’ culture and its impact on the labor force. Chapter Two explores the propagation of neoliberal economics as an objective study, and the final chapter analyzes the use of Black capitalism as a political mechanism to quell Black radical sentiment. In detailing these phenomenons, I investigate the implementation, normalization, and effects, as well as the material repercussions of these ideas and structures.

Migration And The Quality Of American Cities, Chase Mendell

CMC Senior Theses

Across the United States, cities are expanding. It is the role of the city leaders to promote policies that benefit both current and incoming residents. While these policies have intended results, the realized benefits and damages are challenging to define because they are the result of individual choices and the unique characteristics of the city. As a result, policymakers need to consider a complex web of factors such as employment, taxation, housing, mobility, and environmental quality. This thesis seeks to analyze these overlapping factors to discuss how policymakers can increase well-being while mitigating potential harms.

Mixing Sports And Politics: How Totalitarian Regimes Used Sports To Achieve The Goals Of The State, Caroline Phillips

CMC Senior Theses

This paper explores how sports were used by totalitarian regimes to achieve the goals of the state. The three case studies involve the totalitarian governments of interwar Europe: Italian Fascism, German Nazism, and Spanish Francoism. Three main trends were identified. Sports were used to improve their nation’s health and fitness for military preparation, construct a national identity, and as a diplomatic tool to improve their international reputation. I also explore what ideological themes lent themselves to construction of these three specific goals.

Disembedded Liberalism: The Global Pressure On Democracy, Hallie Spear

CMC Senior Theses

The international political order is at a crossroads with divergent paths. Liberal democracy is once again threatened on the international stage. What's more troubling is that the most stable and influential democracies, the United States, those in Europe and India, seem to be vulnerable to the autocratic wave sweeping through the world. This thesis completes a critical analysis to understand the root causes of the recent disruption to democracy the world has observed. Focusing on three established, diverse, and populous democracies, this thesis investigates the economic conditions at play that made each nation vulnerable to populism. Neoliberal economic policies implemented …

"Ethnic" Some Days, White The Rest: Whittier, Ca As A Case Study In Mexican-American Racialization And Assimilation In Los Angeles County, Maria Gutierrez-Vera

CMC Senior Theses

Per the U.S. Census Bureau, the Latino population in the United States stands at 60.5 million. This thesis tells the story of a few hundred-thousand Mexican-Americans in Southeast Los Angeles County’s suburbs, who live in a region nicknamed the “Mexican Beverly Hills.” This is a unique site of middle-class ethnic affluence, but also a place where questions of “Hispanic” racial identity, assimilation, and belonging are played out. The Mexican Beverly Hills promises residents the fulfillment of their own (Mexican-) American Dream, but also plays into tropes of model minorities, demands assimilation and ethnic betrayal from its residents, and is the …

Exploring The Politics Of Fear And Its Intersection With Anti-Asian Violence And Discrimination In The Context Of The Covid-19 Pandemic, Madelyn Kwun

CMC Senior Theses

This thesis examines the linkage between the politics of fear and anti-Asian sentiment and violence following the onset of the COVID-19 Pandemic in Canada and Australia. While anti-Asian sentiment is not new, society does not always address it or educate people on the Asian experience. Throughout the history in which Asians arrived in both Canada and Australia, what started with Chinese exclusion in the late 1800s, led to further discrimination in society leading up to the COVID-19 pandemic. The early foundations of mistrust and disgust towards Asians in Canada and Australia made the onset of the COVID- 19 pandemic worse …

Putative Mechanisms Underlying The Antidepressant Actions Of Ketamine: A Review And Study Proposal, Tristan Reece

CMC Senior Theses

Major Depressive Disorder (MDD) is a highly debilitating and common psychiatric disorder that affects over 250 million people globally; it is among the most financially and emotionally burdensome illnesses in the world. Currently approved antidepressants are suboptimal in their efficacy and latency of therapeutic action. In contrast, single administrations of sub-anesthetic ketamine have been shown to rapidly alleviate depressive symptoms within hours, even in treatment-resistant patients. Ketamine is believed to exert these effects by increasing glutamatemediated neurotransmission and promoting rapid neurotrophic factor release, restoring the integrity of neural circuits that are compromised in depression. However, uncertainty surrounding its specific antidepressant …

Analyzing Marriage Statistics As Recorded In The Journal Of The American Statistical Association From 1889 To 2012, Annalee Soohoo

CMC Senior Theses

The United States has been tracking American marriage statistics since its founding. According to the United States Census Bureau, “marital status and marital history data help federal agencies understand marriage trends, forecast future needs of programs that have spousal benefits, and measure the effects of policies and programs that focus on the well-being of families, including tax policies and financial assistance programs.”[1] With such a wide scope of applications, it is understandable why marriage statistics are so highly studied and well-documented.

This thesis will analyze American marriage patterns over the past 100 years as documented in the Journal of …

The Impact Of Social Movements On Austerity Measures: An Analysis Of Argentina’S Piquetero Movement And Greece’S Anti-Austerity Movement, Katrina D. Frei-Herrmann

CMC Senior Theses

Social movements have sprung up in countries after their respective economies experience an economic crisis and the International Monetary Fund places restrictions on a country’s fiscal policy. Argentina’s piquetero movement and Greece’s anti-austerity movement have both mobilized after economic crises to protest the neoliberal shifts to their economics, yet their success at shifting those policies have not been studied sufficiently. The dominant explanation for social movement success involves analyzing political opportunities or seeing the social movement as an actor with limited resources. These existent methods fail to answer how nuances about internal decisions or forms of protest could influence the …

Is There Value In The Valuation Of Environmental Regulations?, Gage B. Hornung

CMC Senior Theses

Cost-benefit analysis has become one of the principal components in the review process of environmental regulation. However, the valuation of environmental regulation poses a unique challenge, as the benefits of the rules issued by the Environmental Protection Agency are often non-monetized, whereas the costs are more readily monetized. To give weight to the very real but non-monetized benefits of environmental regulation, methodologies have been developed to mark the price of the non-marketable. Still, many would claim that certain benefits of environmental regulations are not captured in cost-benefit analysis or are undervalued by the practice. Hence, while the practice is promoted …

Misvaluing Effective Investors In Intangible Capital, Dustin Lind

CMC Senior Theses

Cohen et al. (2013) measure a firm’s ability at investing in knowledge capital, a type of intangible capital, through a model that captures how well a firm translates R&D intensity into future sales growth. Using this model, they show that an investment portfolio comprised of firms that have high R&D spending ability and high R&D intensity earn significant positive abnormal returns. I modify their model to capture a broader investment in intangible capital by replacing R&D intensity with SG&A intensity and substituting sales growth with gross profit growth. My measure of ability at investing in intangible capital has two main …

Securing The Overnight Rates: A Study Of Alternative Reference Rates In Illiquid Overnight Tri-Party Repo Markets, Michael Murphy

CMC Senior Theses

Since 2011, the London Interbank Offer Rate (LIBOR) has been on the way out for practitioners and researchers alike due to its manipulation in key bank quotes during the Great Financial Crisis (GFC). This paper intends to examine key rates being introduced as LIBOR substitutes, such as SOFR, BSBY, and Ameribor. Specific to its concern, the paper will back test these rates during times of illiquidity in both their respective markets and the broader financial markets to determine which rates will be able to sustain an abnormal drop in transaction volumes. Furthermore, this paper will try to determine whether a …

Containing Compounding Container Congestion, Curtis Salinger

CMC Senior Theses

The Covid-19 pandemic caused major disruptions throughout the container shipping supply chain. Professor Dongping Song of Liverpool University wrote a paper discussing the logistical vulnerabilities in the supply chain, including the issue of congestion in ports. This paper examines the Port of Los Angeles from 2018-2021 as it relates to Song’s paper to see how its operations were impacted during the Covid-19 timeframe. It is found that labor shortages, chassis shortages, and change in trade behavior each contributed to the congestion. Unfortunately, the implemented policies were insufficient to bolster the port against sustained challenges and congestion continues to worsen.

Horticultural Therapy Program For Individuals With Substance Use Disorder: A Mixed-Method Evaluation, Emily Maia Bisaga

CMC Senior Theses

Substance Use Disorder (SUD) is a chronic brain disorder caused by both biological and environmental factors. Although there is no panacea for addiction, holistic adjunctive therapies have been found to improve outcomes for this population. Horticultural Therapy (HT) is one such adjunct therapy that may improve treatment outcomes. Although HT has been found to support holistic healing for many mental and physical ailments, the efficacy of this intervention has not been evaluated in patients with a SUD. The goal of this controlled, mixed-method study is to evaluate whether HT could be an effective component of a holistic SUD treatment program. …

The Potential Of Stakeholder Engagement To Improve Outcomes Of Foreign Investments In Renewable Energy Projects In Lower Income Countries, Grace Hickey

CMC Senior Theses

Renewable energy projects in lower income countries have the potential to help these countries reduce their impact on and become more resilient to climate change, while also increasing their populations’ access to energy and thus potential for sustainable improvement in their quality of life. These projects often rely on foreign investing, and this type of investment has dramatically ramped up in recent years. Yet, these projects still face a high failure rate, and governments and investors have not yet developed consistent frameworks for producing renewable energy projects that ensure both investor returns and positive community outcomes. This thesis predicts that …